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Watch out if M&S shares dip below this point, warns chartist

Technical analyst Zak Mirs tells the Proactive Investors Bulletin Board that investors should be careful if the Marks and Spencer Group Plc (LON:MKS) share price dips below £3.25.

“It’s been a consolidation phase after that May to July breakdown that we saw,” explains Mir.

“There are risks still that if we break below £3.25 – which is the uptrend line from June – then the shares will deliver another leg to the downside.

“In the mean time we've got the 200-day moving average at £3.54 as resistance so watch out for that as the barrier between the bull and bear argument over the near term,” Mir adds.

 
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